BlackBerry Limited (BBRY) designs, manufactures, and sells wireless solutions to the mobile communications market. Through the development and integration of hardware, software, and services, BlackBerry provides solutions for seamless access to time-sensitive information, including e-mail, messaging, as well as Internet and Intranet-based applications.
Lately, BlackBerry has been exploring several business options which will likely help the company offset escalating losses in its smartphone business. BlackBerry’s BES12 platform is increasingly gaining traction and the company’s latest deal with Sprint Corp. also testifies its growing popularity. As per the deal, BlackBerry will deliver secure management solutions to Sprint’s devices from other mobile platforms.
Currently, BlackBerry has a Zacks Rank #3 (Hold), but that could definitely change following BlackBerry’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: BlackBerry Limited beat on earnings. Our consensus earnings estimate called for EPS of a loss of $0.03/share, and the company reported EPS of $0.04 instead. Investors should note that these figures take out stock option expenses.
Revenue: BlackBerry Limited reported revenues of $660 million. This misses our consensus estimate by 833 million.
Key Stats to Note: BlackBerry reported positive cash flow for the reported quarter. Moreover, gaining popularity of BES12 platform and other value added services have resulted in better gross margin for the reported quarter.
Stock Price: BlackBerry shares were up almost 2.69% following the release. Clearly, the initial reaction to the release is positive.
Check back later for our full write up on this BlackBerry earnings report later!
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